True Colors United Inc
EIN: 452489069 · New York, NY · NTEE: R26
Is True Colors United Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About True Colors United Inc
True Colors United Inc (EIN: 452489069) is a nonprofit organization based in New York, NY, classified under NTEE code R26. The organization reported total revenue of $3.4M and total assets of $106K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of True Colors United Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Analysis Pending
AI enrichment for True Colors United Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates True Colors United Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Frequently Asked Questions about True Colors United Inc
Is True Colors United Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, True Colors United Inc (EIN: 452489069) insufficient data. 0 red flags identified, 0 strengths noted.
How does True Colors United Inc spend its money?
Detailed spending breakdown data is not yet available for True Colors United Inc. Check back for updated IRS 990 analysis.
Are donations to True Colors United Inc tax-deductible?
True Colors United Inc is registered as a tax-exempt nonprofit (EIN: 452489069). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for True Colors United Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), True Colors United Inc's revenue has grown by 362.5%, moving from $732K to $3.4M. Total assets increased by 21.9% over the same period, from $438K to $534K. Total functional expenses rose by 1873.2%, from $313K to $6.2M. In its most recent filing year (2023), True Colors United Inc reported a deficit of $2.8M, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $3.4M | $6.2M | $534K | $-37,410 | — | — |
| 2022 | $5.2M | $4.1M | $4.7M | $242K | — | View 990 |
| 2021 | $3.6M | $2.7M | $3.4M | $25K | — | View 990 |
| 2020 | $3.4M | $2.7M | $2.6M | $56K | — | — |
| 2019 | $2.3M | $2.4M | $1.9M | $84K | — | View 990 |
| 2018 | $3.0M | $1.8M | $1.9M | $32K | — | View 990 |
| 2017 | $2.0M | $1.5M | $737K | $29K | — | View 990 |
| 2016 | $1.2M | $1.5M | $236K | $44K | — | View 990 |
| 2015 | $1.6M | $1.2M | $605K | $52K | — | View 990 |
| 2014 | $912K | $1.1M | $287K | $44K | — | View 990 |
| 2013 | $874K | $834K | $491K | $31K | — | View 990 |
| 2012 | $732K | $313K | $438K | $19K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.4M, expenses of $6.2M, and assets of $534K (revenue -35.3% year-over-year).
- 2022: Revenue of $5.2M, expenses of $4.1M, and assets of $4.7M (revenue +45.3% year-over-year).
- 2021: Revenue of $3.6M, expenses of $2.7M, and assets of $3.4M (revenue +6.5% year-over-year).
- 2020: Revenue of $3.4M, expenses of $2.7M, and assets of $2.6M (revenue +46.4% year-over-year).
- 2019: Revenue of $2.3M, expenses of $2.4M, and assets of $1.9M (revenue -22.5% year-over-year).
- 2018: Revenue of $3.0M, expenses of $1.8M, and assets of $1.9M (revenue +49.1% year-over-year).
- 2017: Revenue of $2.0M, expenses of $1.5M, and assets of $737K (revenue +69.2% year-over-year).
- 2016: Revenue of $1.2M, expenses of $1.5M, and assets of $236K (revenue -23.8% year-over-year).
- 2015: Revenue of $1.6M, expenses of $1.2M, and assets of $605K (revenue +70.1% year-over-year).
- 2014: Revenue of $912K, expenses of $1.1M, and assets of $287K (revenue +4.3% year-over-year).
- 2013: Revenue of $874K, expenses of $834K, and assets of $491K (revenue +19.4% year-over-year).
- 2012: Revenue of $732K, expenses of $313K, and assets of $438K.
Data Sources and Methodology
This transparency report for True Colors United Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.